PUBLIC AND ACCIDENT INSURANCE RISKS.

Shannon News, 21 January 1929, Page 1

PUBLIC AND ACCIDENT INSURANCE RISKS.

POWER BOARD TO CONSIDER CREATING ITS OWN FUND. The question of the Horowiienua Power-Board creating its own fund for covering certain insurance risks was mentioned again at the meeting of the Board yesterday. . The Chairman (Mr *G. A. Monk), ill referring to the subject/ explained that, accprding to law, the Board would not be permitted to pay into such a fund an amount greater than that already paid in premiums. The fact that Power Boards incurred greater risks than other bodies was recognised, as shown in the premiums demanded, which were higher than those of the ordinary commercial risk. This ' Board had been practieularlv fortunate in regard both to the risks relating . . to its employees and to the public. Other Boards had not been so fortunate, some of them having been mulcted : in fairly heavy damages. It ;v#s— B3- —*■— peciallv necessary to make provision ' for accidents where the men were concerned. ; ; Mr W, E. Barber {suggested that the Secretary furnish the Board with some information oil the subject. The Secretary (Mr P. W. Goldsmith) stated that the amounts paid by th‘ Board in premiums were: Fire, £l3 9s lOd; accident, £165 7s lid; motor vehicles, £lOl Is Id; fidelity, £9O 6s sd; total, £3OO 5s 3d. The-Chairman said that £3OO seemed to ]?e a lot of money to be paying away in premiums, but the nature of the risks had to be taken into consideration. The payments did not in-v elude a public risk, which, if undertaken, would probably cost from £65 to, £7O a year, He did not suggest that the Board should take over the \ whole of the risks, but it might provide for the public and aceident risks. Without further information he wvi r not prepared to move for the establishment of an insurance, fund.. The matter of supplementing the information was left to the Secretary; and Mr T. G. Vincent gave notice to move at the next meeting, that the Board initiate its own insurance scheme to cover public risks, accidents, and motor risks.